Romania’s capital city Bucharest ranks 69th among 73 cities worldwide according to the price levels, says a survey conducted by financial services firm UBS. New York, Geneva and Oslo are still among the most expensive cities worldwide, according to UBS classification. Excluding rents, Bucharest outruns only Mumbai and Manila at the bottom of the top, the first slots being occupied by Oslo, Zurich and Geneva.

The price differential between Western and Eastern Europe narrowed from roughly 35 percent at the start of 2009 to about 26 percent now, either including or excluding rent, UBS said. In terms of wage levels, Bucharest ranks 63rd in UBS's classification. The first three places went to Zurich, Geneva and New York, while Mumbai and Manila are the cities with the lowest net salaries worldwide.

The questionnaire used for the survey covered 122 different goods and services, and included 112 questions pertaining to wages, payroll deductions and working hours for 15 different occupations worldwide, UBS said.

Mediafax